MANILA – Malacañang remains optimistic that President Rodrigo Duterte will sign the proposed P4.506-trillion 2021 national budget before Christmas even if the enrolled bill has yet to be transmitted.
According to Presidential spokesperson Harry Roque, even if they do not have a copy of the budget bill yet, the Department of Budget of Management (DBM) already has an idea which items may be recommended for presidential veto.
“Ibig sabihin, hindi po tayo maaantala doon sa pag-aaral dahil napag-aaralan na po at inaasahan pa rin natin mapipirmahan po ang budget para maging epektibo sa (Jan. 1),” Roque said in a virtual presser on Tuesday.
“We are even planning a ceremonial signing of the budget before Christmas. Ayaw ko na lang po magsabi kung kailan exactly,” he added.
Roque reiterated that President Duterte is not considering a reenacted budget just like what happened in 2019 when the four-month delay in the passage of the spending plan pulled down the overall economic growth.
The timely signing of the budget bill will be crucial to rebound from this year’s recession, with the economy having shrunk by 10 percent as of September due to coronavirus quarantine rules and earlier lockdowns.
The Duterte administration is also pining for a record of eight to 10 percent growth by 2022, which would require decisive and quick budget spending and project implementation to pull off.
Both chambers of the Congress ratified the budget bill last week, a landmark spending plan that factors in the country’s COVID-19 response and vaccine funding needs.
A P72.5 billion allotment is earmarked for vaccine purchases, P70-billion of which will be supported either by loans or from excess revenue collections. It also provides P1.1 trillion for infrastructure projects, which are touted to create jobs and boost economic activity after a recession year.
Education will receive the biggest allocation at P708.2 billion, followed by Public Works with P694.8 billion. Health-related spending is given P287.5 billion./PN
